Golf Community HOAs: What you need to know
Frequently asked questions prospective buyers have about the role and cost of homeowners associations.
Jason Becker, PGA
April 01, 2019
See the full article on golfadvisor.com
I’m sure you’ve seen the legendary Seinfeld episode where Morty resigns from the presidency at The Pines of Mar Gables Phase II Condo Association in Del Boca Vista, Florida. Rumors swirled that he was stepping down due to threat of impeachment by vice president Jack Klompus, who was certain Morty was stealing from the association’s capital reserves after purchasing a new Cadillac. It’s a classic episode, and one those of us in the real estate industry enjoy.
As for you, the consumer, I can say with 100% certainty that your future club life in a homeowners association (HOA) will not mirror the lives of Morty and Helen Seinfeld. But it is important nonetheless to educate yourself ahead of time on the fundamentals of an HOA and what your role is as one of many homeowners within a community.
Over the past 18 months, Golf Life Navigators (GLN) has connected with over 10,000 consumers. 68% plan to buy a home during their search for the ideal golf club. For these folks, a common question we hear is, “What can I expect with HOAs?”
If you identify with the characteristics below, you’re not alone:
- Ages 55-65
- Transition time of 6-18 months to the Sun Belt
- Would like to live in a gated golf community
- Budgeting for a home purchase and club dues alongside a club membership
- Not really sure what to expect from the HOA side of the equation
Sound about right? We get it – a bit of anxiety arises when terms like “HOA” and “POA” get tossed around during the search. Unfamiliar territory on a subject is extremely important to understand ahead of time so you can ask the right questions.
To continue our Golf Advisor Living mission and get you educated and insightful on a Sun Belt move, our goal is to help you understand HOAs early on so you are much more comfortable with the terminology and objectives. Thus, there are no surprises along the way.
Helping us on this project is James Schumaker, senior vice president of the Castle Group. Based in the company’s headquarters in Plantation, Fla., James spends his days overseeing all east coast business operations between Palm Beach and Indian River Counties. The firm manages both luxury condominiums and residential communities in both Florida and Texas with roughly 250,000 owners under management. We recently asked James to help provide an understanding of what HOA life is like ahead of that home purchase.